Assignment on Salary structure for a Marketing Manager

Course Code: HRM 412

Section: 01

Submitted to
Laila Zaman
Assistant Professor
East West University

Submitted by

Name ID Contribution
Fatema Begum Shrabony 2017-1-10-034 20%
Tanvir Ahmed 2017-1-10-162 20%
Nur Nahar Lima 2017-1-10-247 20%
Sazid-Al-Kabir 2017-2-10-037 20%
Nusrat Fatema 2018-1-10-104 20%

Department of Business Administration

Date of Submission:
August 1, 2021
 Pay Structure
Organization Name: ABC Company Ltd.
Department: Sales and Marketing
Position: Marketing Manager

Particulars Earnings per month ( Taka )

Basic pay 42,500

House Allowances 12,750
Medical Allowance 8,500
Leave Fare Assistance 6,375
Transport allowance 2,125
Gross salary 72,250

Particulars Deduction per month (Taka)

Provident Fund 3,400

Loan Repayment 1,275
Tax Payment 5,004
Total Deduction 9,679

Annual salary is (72,250x12) = 867,000 Tk. This is a taxable income.

According to the Income Tax Paripatra 2021-2022, the National Board of Revenue Bangladesh,
the following tax is imposed on his income annually:
Slab Slab Limit Salary Count Tax Rate Amount to be
Paid(taka)

1 Up to 3,00,000 3,00,000 0% 0

2 Next 1,00,000 1,00,000 5% 5000

3 Next 3,00,000 3,00,000 10% 30,000

4 Next 4,00,000 1,67,000 15% 25,050

Total 8,67,000 60,050

Monthly deductible income tax = (60,050/12) = 5,004 Tk.

Reference:
Page #2, Income Tax Paripatra 2021-2022, the National Board of Revenue Bangladesh.
Link: https://nbr.gov.bd/uploads/paripatra/2021_Paripatra_draft_final.pdf
 Gross Salary 72,250 taka
Less : Total Deduction 9,679 taka
Net salary: 62,571 taka

NB: As per ABC Company Ltd. policy, 30% of basic as House allowances, 20% of basic as
medical allowance, 15% of basic as LFA and 5% of basic as transport allowance for the position
of Marketing Management.
The company deduct 8% of basic as PF, 3% of basic as loan repayment (if employee takes any
loan), and tax as per government policy for the position of Marketing Management.

Fringe Benefits Amount per month Amount per year

(Taka) (Taka)
Festival Bonus (1 basic/festival) 7,083.33 85,000
Performance Bonus (half of basic/year ) 1,770.83 21,250
Gratuity (2 basic/year ) 7,083.33 85,000
Health Insurance 500 6,000
Total Fringe Benefits 16,437.49 197,250

NB: ABC company`s fringe benefit cost for marketing manager position per month is 16,437.49tk
monthly. The company gives two festival bonuses in two festive occasions. Performance bonus
will be given to those who exceeds their yearly target. Employees who are committed to work at
least 5 years with ABC Company Ltd. will be eligible for Gratuity.